Saturday, April 22, 2006
SHOW ME THE MONEY, honey. May I have a piece of your pie?
To get specifics click the above link and note that even if a congressman goes to prison, he still qualifies for the congressional pension.
The Future World plan to level the playing field.
Every congressman and senator only gets elected ONE TERM for life. Every legislator will be paid exactly the same salary since no one is in office more than 4 years. The only income allowed is the public salary paid at $80K/ year. NO campaign contributions of any kind will be tolerated or the politician gets an automatic sentence of at least 1 year in a jail cell. There will be NO federal pension, only social security and 401K plans. There will be NO health care plan except the standard Medicare coverage upon retiring from office. Anyone leaving office is not allowed to lobby an incumbent congressman or senator FOR LIFE.
Now, let's see if they would still spend our money the same way!
Steve
This article may be reproduced WITHOUT CHANGE and in its entirety for non-commercial and non-political purposes. ourfutureworld.blogspot.com
WASHINGTON - Members of Congress occasionally lose elections, but they never lose retirement and health benefits that most Americans can only envy.
Lawmakers also have the peace of mind of knowing their federally backed plan will be there when they retire.
"I don't think that many people in Congress would be quite so indifferent to the demise of the defined-benefit plan if they didn't have such a robust plan themselves," said James Klein, president of the American Benefits Council, which represents companies with pension plans.
Congressional pensions tend to be far more generous than those offered in the private sector. Benefits start earlier and unlike most private pension plans promising a fixed monthly payment based on years worked, congressional pensions pay income with annual cost-of-living increases. They also accrue a third faster than the average plan offered by private companies.
Cost-of-living adjustments, a shield against inflation, "haven't been slightly common since the 1980s" in the private sector, said John Ehrhardt, an expert in corporate retirement programs at the Seattle-based consulting and actuarial firm Milliman. He said COLAs could add 25 percent to the value of a congressional plan over its lifetime.
Any member of Congress with five years of service is eligible for full benefits at 62. Those with 20 years in office can get full benefits at 50, younger than most workers.
To get specifics click the above link and note that even if a congressman goes to prison, he still qualifies for the congressional pension.
Every congressman and senator only gets elected ONE TERM for life. Every legislator will be paid exactly the same salary since no one is in office more than 4 years. The only income allowed is the public salary paid at $80K/ year. NO campaign contributions of any kind will be tolerated or the politician gets an automatic sentence of at least 1 year in a jail cell. There will be NO federal pension, only social security and 401K plans. There will be NO health care plan except the standard Medicare coverage upon retiring from office. Anyone leaving office is not allowed to lobby an incumbent congressman or senator FOR LIFE.
Now, let's see if they would still spend our money the same way!
Steve
This article may be reproduced WITHOUT CHANGE and in its entirety for non-commercial and non-political purposes. ourfutureworld.blogspot.com
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